Non-Resident Taxpayers without PAN can file Form 10F Manually till September 30

 The Central Board of Direct Taxes (CBDT) released a notification on 28 March 2023 offering relief to NRIs without a PAN (Permanent Account Number) by allowing them to file Form 10F manually till 30th September 2023. Earlier, exemption from mandatory e-filing of Form 10F was provided till 31st March 2023. In this blog, we will throw light on Form 10F and challenges faced by Non-Residents during e-filing of Form 10F.

Charu Dhasmana

· 8,145 views

REC Bonds: Rural Electrification Corporation Bonds

 When an asset such as land or a building is sold after being held for more than two years, the resulting profit is known as a long-term capital gain. To avoid paying tax on this gain, you can invest it in specific bonds within six months of the sale of the asset. One effective option is to invest in 54EC bonds, which are also known as capital gains bonds. One of the bonds under Section 54EC are REC bonds (Rural Electrification Corporation Bonds). They are debt instruments issued by the Rural Electrification Corporation (REC) of India to finance rural electrification projects.

Charu Dhasmana

· 14,306 views

Debt Funds are not Eligible for LTCG Tax Benefits from April-23

 The government introduced amendments to the Finance Bill 2023. In a setback to debt mutual fund investors, a proposed amendment to the bill was removing the long-term capital gains (LTCG) tax benefit from debt mutual funds. Hence, any capital gain received on investments made after April 1, 2023 in Non-equity mutual funds (Funds which have more than 36 months investment in debt) will not be eligible for long term capital gains taxation benefits.

Manoj Negi

· 5,054 views

FEMA Guidelines for Inward Remittance

 When a relative abroad sends you money, and it gets deposited into your Indian bank account, it is considered as an inward remittance. Each country has its own set of rules and regulations to regulate such types of foreign remittances. For instance, in India, the FEMA (Foreign Exchange Management Act) under RBI (Reserve Bank of India) outlines the rules and regulations for inward remittances. This blog explains inward remittance and FEMA guidelines for inward remittance to help you safely and swiftly send money to India.

Charu Dhasmana

· 26,143 views

Which Trading Account is Best for NRIs in 2023? SBNRI

 Best NRI Trading Account in India: Despite the recent volatility and dull phase in Indian equity markets, the country’s long-term growth story remains intact. Indians staying overseas can take advantage of the high growth back home by investing in stocks and mutual funds in India. Indian stock brokers are also wooing NRIs with attractive services like Zero AMC NRI Demat Account, 3-in-1 NRI Trading Account and Low Brokerage NRI plans. NRIs need a trading account to invest in the stock market-listed companies in India.

Manoj Negi

· 50,815 views

NRO Account Minimum Balance Requirements

 NRIs need to open an NRO (Non-Resident Ordinary) account if they are earning income in India in the form of a pension, dividends or rental income. When looking for a bank to open an NRO account, there are a lot of options available in India. However, when deciding a bank to open an NRO account, you should look at important parameters like NRO account minimum balance requirements, interest rates, presence of the bank, among others.

Charu Dhasmana

· 15,428 views

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